FMCG company Adani Wilmar’s issue opens today — Check out the important dates and details of the IPO
- FMCG company Adani Wilmar will open its IPO today and will close on January 31.
- The IPO is a fresh issue of equity shares of ₹3,600 crore.
- Shares of the company were trading at a premium of ₹50 per share in the grey market.
AdvertisementFast moving consumer goods (FMCG) company and Adani Group company Adani Wilmar, known for edible oil 'Fortune' opens its initial public offering (IPO) today, January 27.
The IPO is a complete fresh issue of equity shares of ₹3,600 crore and no existing promoters or shareholders will be selling any shares.
Shares of the company are currently commanding a grey market premium (GMP) of 25%, which is ₹50 per share from the IPO price.
Here are some of the important details of the IPO:
The company’s portfolio of products spans across three categories -- edible oil, packaged food and FMCG, and industry essentials.
|IPO open date||January 27|
|IPO close date||January 31|
|Allotment date||February 3|
|Initiation of refunds||February 4|
|Credit of shares to demat account||February 7|
|IPO listing date||February 8|
Further, its future growth strategy is focusing on value-added products with the launch of edible oil products, rice bran health oil, fortified foods, ready-to-cook soya chunks, khichdi and more.
Considering the company’s strong footing in edible oil business, wide distribution and future prospects, analysts recommend subscribing to the IPO.
“Adani Wilmar has strong brand recall, wide distribution, better financial track record and healthy returns on equity (ROE). Considering all the positive factors, we believe this valuation is at reasonable levels. Thus, we recommend a subscribe rating on the issue,” said Amarjeet Maurya of Angel One.
|Adani Wilmar||Revenue||Net profit|
SEE ALSO: Adani Wilmar is a good FMCG bet to invest at a reasonable IPO price, say analysts
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